Enabling Least Cost Routing could help you save on fees. Compare the fees you pay now with the fees you would pay with different routing options to make an informed decision about whether to opt-in.
What are interchange fees?
Interchange fees are paid by your acquiring bank (the bank that processes your business payments) to the issuing bank (the bank whose card the customer is using) on your behalf.
If you have a Bankwest merchant facility, your acquiring bank is Bankwest.
You can find details of all your current fees on your fee schedule and Merchant Statement – including interchange fees set by Visa and Mastercard.
You can find out about the different interchange fees that Visa, Mastercard and EFTPOS charge on their websites.
See Visa interchange fees
See Mastercard interchange fees
See EFTPOS interchange fees
More options for managing costs
Least Cost Routing lets you process your payments through the EFTPOS network instead of the credit network (Visa or Mastercard®).